TCG Crossover Management LLC Takes Position in Tango Therapeutics, Inc. (NASDAQ:TNGX)

TCG Crossover Management LLC acquired a new stake in Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,736,000 shares of the company's stock, valued at approximately $33,174,000. Tango Therapeutics comprises approximately 3.2% of TCG Crossover Management LLC's portfolio, making the stock its 10th biggest position. TCG Crossover Management LLC owned approximately 9.99% of Tango Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in Tango Therapeutics during the 4th quarter valued at $33,000. Teacher Retirement System of Texas raised its holdings in shares of Tango Therapeutics by 35.8% in the fourth quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock valued at $45,000 after acquiring an additional 3,831 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Tango Therapeutics in the fourth quarter worth about $45,000. Price T Rowe Associates Inc. MD grew its holdings in Tango Therapeutics by 29.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock worth $65,000 after acquiring an additional 4,813 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Tango Therapeutics during the 4th quarter valued at about $66,000. 78.99% of the stock is currently owned by institutional investors.

Tango Therapeutics Stock Up 7.1 %

Shares of Tango Therapeutics stock traded up $0.10 on Friday, reaching $1.51. The stock had a trading volume of 457,643 shares, compared to its average volume of 1,081,082. The stock has a market capitalization of $163.24 million, a P/E ratio of -1.28 and a beta of 1.03. The company has a 50 day moving average price of $1.60 and a 200 day moving average price of $2.89. Tango Therapeutics, Inc. has a 1 year low of $1.11 and a 1 year high of $12.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. The firm had revenue of $4.12 million during the quarter, compared to analysts' expectations of $7.84 million. On average, analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $29,236.22. Following the transaction, the chief executive officer now owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. This represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 24,268 shares of company stock valued at $72,561 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target on shares of Tango Therapeutics in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.33.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.